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28 March 2019Insurance

Monument Re acquires Ireland-based Inora Life from Societe Generale

Bermuda-based reinsurer Monument Re has signed a definitive agreement to acquire Inora Life DAC from French financial services company Societe Generale.

Inora Life is a life insurer domiciled in Ireland, which has ceased all new activity since 2012, but manages a portfolio of unit-linked insurance products.

The closing of the transaction is subject to regulatory approval.

Manfred Maske, CEO of Monument Re Group, said: “We are pleased to have been able to work with Societe Generale and to be able to announce this transaction. The acquisition of Inora aligns with our growth and consolidation strategy in Ireland.”

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11 December 2019   Cattolica Life, a life insurer domiciled in Ireland, ceased new activity in 2017.
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2 April 2019   Bermuda-based Monument Re is to acquire a €140 million portfolio of Irish annuities from insurer Rothesay Life.
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8 November 2018   Bermuda-based Monument Re has acquired a run-off portfolio of traditional life and credit life business from Alpha Insurance, a Belgian composite insurance company and a wholly-owned subsidiary of Enstar Group.